What tech innovation means for the business of fashion
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When you think about the pandemic’s impact on fashion, what comes to mind? For most people, the answer is probably sweatpants or jeans and t-shirts, really any super casual attire or cozy athleisurewear that so many of us around the world started wearing every day as our homes suddenly became (and have remained) our offices. But behind the scenes the business of fashion has been undergoing a much more serious, technology-fueled makeover. This has impacted not only how the customer interacts with brands and retailers, but just as critically, how the industry operates far from the spotlight, whether managing its inventory, pricing and supply chain or designing and producing its products. A growing wave of fashion tech startups is both driving and benefitting from this shift, and venture investors’ interest in the sector is likewise growing. To help us understand how technology is fundamentally reshaping the business of fashion and fashion innovation, we are pleased to be joined today by Anita Balchandani, a McKinsey partner based in London who leads the firm’s Apparel, Fashion & Luxury Practice in the UK, Europe, the Middle East, and Africa.
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